Skip to main content
HR 2130 104th Congress House Agriculture and Food Affiliated corporations Agricultural credit Agricultural economics Bank capital Bank reserves Bankruptcy Capital Capital formation Commerce Corporate finance Corporate liquidations Corporations Economics and Public Finance Family farms Farm lands Federal preemption Federally-assisted loans Federally-guaranteed loans Finance and Financial Sector

Farmer Mac Reform Act of 1995

Introduced: July 27, 1995 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 13 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 20, 1996
For Further Action See H.R.2029.
Mar 15, 1996
Placed on the Union Calendar, Calendar No. 233.
Mar 15, 1996
Committee on Banking and Financial Services discharged.
Jan 4, 1996
Referred sequentially to the House Committee on Banking and Financial Services for a period ending not later than March 15, 1996 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(c), rule X.
Jan 4, 1996
Reported (Amended) by the Committee on Agriculture. H. Rept. 104-446, Part I.
Dec 13, 1995
Ordered to be Reported (Amended) by Voice Vote.
Dec 13, 1995
Committee Consideration and Mark-up Session Held.
Dec 13, 1995
Subcommittee on Resource Conservation, Research and Forestry Discharged.
Dec 7, 1995
Subcommittee Hearings Held. Hearings Printed: H. Hrg. 104-23.
Aug 2, 1995
Referred to the Subcommittee on Resource Conservation, Research and Forestry.
Aug 2, 1995
Executive Comment Requested from Farm Credit Admin.
Jul 27, 1995
Referred to the House Committee on Agriculture.
Jul 27, 1995
Introduced in House
 Plain-English summary Congressional Research Service

Farmer Mac Reform Act of 1995 - Amends the Farm Credit Act of 1971 with respect to the Federal Agricultural Mortgage Corporation (Corporation) to revise the definitions of "agricultural real estate," "certified facility," and "affiliate."

(Sec. 6) Includes among the Corporation's powers the authority to perform all the functions of an agricultural mortgage marketing facility, including purchase and disposition of qualified loans and issuance of guaranteed securities.

(Sec. 7) Makes mandatory (existing authority is discretionary) the Federal banks' role as Corporation depositories and fiscal agents.

(Sec. 10) Repeals provisions regarding: (1) guaranteed loan reserve or subordinated participation requirements and diversified pools; and (2) certified facilities' reserves and subordinated participation interests.

(Sec. 12) Encourages the inclusion of small farm loans in the agricultural mortgage secondary market.

(Sec.14) Provides that State usury laws shall be superseded with regard to certain pooled agricultural loans.

(Sec. 15) Extends the risk-based capital test transition period (and certain related deadlines).

(Sec. 16) Revises minimum capitalization and critical capital provisions.

(Sec. 19) Requires recapitalization of the Corporation to at least $25 million within a specified time period.

(Sec. 20) Authorizes Farm Credit System banks or associations to issue loans for secondary market sale without voting stock or participation certificate purchase requirements, or to retire voting stock or participation certificates on already issued loans.

(Sec. 21) Provides for the voluntary or involuntary liquidation of the Corporation, including the appointment of a conservator or receiver.

What's happening now March 20, 1996

For Further Action See H.R.2029.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Republican 1